Distribution of Funds Transparency Statement

Distribution of Funds Transparency Statement

The distribution of funds to the victims,families, and businesses of mass flooding, requires the highest level of transparency, complete accountability and closely managed stages of distribution. Below are the details on how the Korean Society of Maryland and Howard County Korean Society is structured to meet those needs. Please note, all donations are through Korean Society of Maryland , a 501(c)(3) entity. Contributions are deductible to the full extent of the law.

Transparency

Korean Society of Maryland made and maintains this clear commitment in all of our communications: 100% of all funds received will be distributed to support every single victim of the horrific flooding in Ellicott City, MD. This includes victims’ families, survivors, and businesses who may not have suffered physical injury but are in need of trauma support. The tremendous devastation targeted our community, and, it is our responsibility to provide a mechanism to safely and securely donate to the victims of this tragedy, their families and businesses.

The victims were overwhelmingly residents and small businesses. All victims will be eligible to receive funds.

We will meet with residents, business owners, and property owners impacted on the following dates. Location: 50+ Center, 9401 Frederick Road, Ellicott City
August 2-5, 2016
· Tuesday and Wednesday2pm-7pm
· Thursday and Friday10am-3pm…August 8-12, 2016
· Monday, Tuesday, Wednesday2-7pm
· Thursday and Friday10am-3pm
We know the needs are great. We will deliver 100% of all funds we receive to the victims of the horrific flooding will go to Ellicott City, MD . This includes victims’ families, survivors, and those in the club who may not have suffered physical injury but are in need of trauma support.

Accountability

Korean Society of Maryland, Howard County Korean Society, and Howard County have announced a partnership with Ellicott City Flood Victims to ensure all funds collected for victims are disbursed in a unified process that will expedite funds, ensure transparency and safeguard against fraud.

The Fund was first proposed by Korean Society of Maryland Multi Cultural Dept. KSM empowers Korean-born individuals by providing programs and direct services that help them access community resources and opportunities.

For 40 years, KSM believes our community is stronger and richer because of its diversity, and values the differences of cultures and peoples.KSM believes in the power of collaboration, and values the opportunity to work in partnership with other organizations to “bridge cultures and build community.

The first step that leads to distribution of funds is identifying the full group of recipients. To that end, we have been pushing hard with every form of media available to us to get the victims’ families, survivors, and those in the who may not have suffered physical injury but are in need of trauma support to register.

Disaster relief professionals around the world recognize that it can typically take 6-9 months to fully distribute all funds from a victim’s fund of this nature. Of course, victims and their families have immediate needs that must be met, and Korean Society of Maryland with joint effort of Howard County Korean Society is committed to meeting that need. In working with our partners, we are expediting the process of fund disbursement to ensure there is no gap in the safety net for these families. We expect funds to be dispersed as quickly as eight weeks.

Immediate needs are currently being handled in a number of ways. State and county agencies, along with in-kind donations from corporate supporters, are the cornerstone of immediate victim relief. agencies, in-kind support or negotiations and require immediate cash disbursement are being communicated by Korean Society of Maryland and disbursed in accordance with state and federal regulations.

The Howard County Government is opening a Disaster Assistance Center, a single location where residents, business owners, and property owners impacted by Saturday’s severe flooding on Main Street in Ellicott City can get information about agencies and organizations that can offer assistance with recovery. On Monday Aug.1, 2016, Allan Kittleman Howard County Executive and officials from local and state agencies held an informational meeting at the Ellicott City 50+ Center to answer questions from residents, business and property owners.
Afterwards, they announced that the center (9401 Frederick Road) will serve as a single location for those impacted by the flooding to get information about agencies and organizations that will be offering assistance with recovcery efforts.

As soon as possible, we will move from the urgent, immediate crisis mode we are current in, finalize the process for identifying all qualified victims and their families, and make the final distributions that can hopefully offer some comfort or consolation in time of distress during the healing process. It is too early to identify what long-term support would be beneficial to the community, but that is a discussion to have later and something to be funded separately. This fund is solely about the victims’ families and the survivors.

We hope that this outline provides complete clarity about how this Victims Fund is being managed with regards to transparency, accountability and distribution. Please send any questions or comments to info@koreanmd.org. Thank you to the countless people and organizations that are generously giving their time and resources. The worldwide outreach is truly humbling and inspiring during this tragic period of devastation.